UAE Banking Sector Workforce Hits Record 39,000 Amid Strong Financial Growth

The number of employees in UAE banks has surpassed 39,000 for the first time since 2015, reflecting steady sector growth, according to the latest data from the Central Bank of the UAE (CBUAE).

The Monthly Statistical Bulletin, Banking and Monetary Statistics - December 2024, released today, reported that the total banking workforce reached 39,046 by the end of 2024, marking a 2.3% increase from 38,168 in 2023. National banks employed 32,590 individuals, while 6,456 worked for foreign banks operating in the UAE.

In parallel, the CBUAE reported a 26.63% surge in gold bullion holdings, reaching AED22.981 billion by year-end, up from AED18.147 billion in 2023.

The UAE banking sector also saw robust growth in deposits. Demand deposits surpassed AED1.109 trillion, with AED822.42 billion held in local currency. Savings deposits totaled AED317.486 billion, while time deposits amounted to AED945.75 billion, with more than half in local currency.

Additionally, the net international reserves of UAE banks exceeded AED1.446 trillion by the end of 2024, compared to AED1.145 trillion in 2023, underscoring the financial sector’s resilience and stability.

News Source: Emirates News Agency